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Avis Budget Group, Inc. (CAR) CEO Joseph Ferraro on Q3 2021 Results - Earnings Call Transcript

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Avis Budget Group, Inc. (NASDAQ:CAR) Q3 2021 Earnings Conference Call November 2, 2021 8:30 AM ET

Company Participants

David Calabria - Treasurer & SVP, Corporate Finance

Joseph Ferraro - CEO & President

Brian Choi - EVP & CFO

Conference Call Participants

Billy Kovanis - Morgan Stanley

Brian Johnson - Barclays Bank

Ryan Brinkman - JPMorgan Chase & Co.

Chris Woronka - Deutsche Bank

Aileen Smith - Bank of America Merrill Lynch


Greetings, and welcome to the Avis Budget Group Third Quarter 2021 Conference Call. [Operator Instructions]. As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, David Calabria, Treasurer and SVP of Corporate Finance.

David Calabria

Good morning, everyone, and thank you for joining us. On the call with me are Joe Ferraro, our Chief Executive Officer; and Brian Choi, our Chief Financial Officer.

Before we begin, I would like to remind everyone that we will be discussing forward-looking information including potential future financial performance, which are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from such forward-looking statements and information. Such risks and assumptions, uncertainties and other factors are identified in our earnings release and other periodic filings with the SEC as well as the Investor Relations section of our website.

Accordingly, forward-looking statements should not be relied upon as a prediction of actual results in any or all of our forward-looking statements may prove to be inaccurate, and we can make no guarantees about our future performance. We undertake no obligation to update or revise our forward-looking statements.

On this call, we will discuss certain non-GAAP financial measures. Please refer to our earnings press release, which is available on our website, for how we define these measures and reconciliations to the closest comparable GAAP measures. With

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Comments (1)

"...we're still depthing our fleet at roughly 240 per month."
Can anyone knowledgeable tell me what "depthing" mean? I have never heard of the term and googling it doesn't give me any answer. Also, every time this "240" figure appears, there is no unit specified. What does it refer to? Thx.
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